New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1887-07-28
CLOSING PRICES OF PHILA STOCKS
WEDNESDAY, July 27-r. N.

WEDNESDAY, July 27-r. N.
The stock marx cts to-day active and at the
Stock Exchange the recorded transactions amounted
37os75 shares and the Consolidated Exchange to
216,740 shares But excepting drbbling of long stocks
from inpecun0us traders the markets almost en-
trely made by continued sales OF short stocks for
operators temporarily residing at Newport and gen.
following Of board-room traders. The declines
marked while Irregular sharp all around the list,
and yet far or learn from the most OBJ
servant Of special brokers' holders Of stocks fair
margins all distur bed by the local marking OF
lower prices The has declined efficiently under
ordinary circumstances TO bring out long stocks but the
decline has not done It, and the bulk Of the transactions
made up OF dealings In contracts phantom stocks
The prevailing conditions are anomalous. Aside from
the want Of appreciation Of the changed conditions OF
affairs the part OF the governors OF the Stock Ex
change, who attempted 10 strike q sedgehammer
blow" at the Consolidated Exchange ty constituting
an annex" I'm which unlisted " securities, such as
Phenix Mining and Cotton Seed Oicertcaes, were per-
mtted to be dealt In ami which has proved to be the
most damaging step the Stock Exchange ever took,
a very large proportion OF the individual members OF the
Exchange have accepted and talked to their clients
danger Of tight money, Treasury accuuulations, and
large treasury surplus 1t has been told of to them by
parties The facts open 10 one for
his individual investigation much they are to
Harvey Fisk & Co., who to-day Issue n circular on
Treasury lock up" which Is In every OF
its assumptions It is not credable to the average
members OF the Stock Exchange that they do not pre-
pare themselves with the Official facts AMI figures to
combat false OF those who talk and write
from interested motives Every member OF the Stock
Exchange 1t to his clients TO he able that Ia
correct false and their position on
a subject OF much importance to the speculative ques
ton Fluctuations may be male they are made. by the
incubation OF IDEAS but tho facts will rule In
end The Of talk TO which have referred has
been successful In killing speculation, but the holding
OF stocks aud bonds 10 be made of stuff which
thinks for itself and thus while traders deal at lower
prices there Is liquidation the part Of those who
have taken their stocks up and paid for them In full.
Board-room traders today sold Lake Shore down to
92 H. the OF the stock know that IL s
earning at the OF per cent per annum they
sold Erie 20 IL Il 1s per cent lower than 1t sold IN
the June panic and ID per lower than It sold In
the panic OF December 49, 1886. yet the companys
port for the month OF juno and for the nine months
ended June 80 printed below shows that In the nino
months its net earnings S723000 moro than its
first charges and 81 l3, 900 than q nno months
dividend on the preferred stock They also sold North
western down to lib 34-1 Il lower than II sold
June "a. while In the time the company has made
apartal report OF its last years business showing net
earnings OF ~ per cent both classes OF stocks
II il OF interest TO compare todays lowest prices
with the lowest OF the panic days in last December
and June and number of the active stocks the
ria ia a fol